08:27 AM EDT, 04/18/2024 (MT Newswires) -- Biohaven ( BHVN ) said Thursday it has priced an underwritten public offering of about 5.6 million shares at $41 each for gross proceeds of about $230 million.

The biopharmaceutical company granted underwriters a 30-day option to buy up to about 841,000 additional shares at the offering price, minus underwriting discounts and commissions.

Net proceeds of the offering, expected to close Monday, will be used for general corporate purposes, the company said.

Biohaven ( BHVN ) shares were down nearly 5% in recent premarket activity.